Super guides
Our technical reference guides provide you with a comprehensive summary of the superannuation rules and issues that you need to be aware of when advising clients.
Award winning technical support
Helping you cut through the complexity of Australia’s super and retirement system
Rated #1 for Technical Support 11 years in a row by Wealth Insights*
Key topic areas
Common tasks
Common tasks
Common tasks
Common tasks
Common tasks
Common tasks
Latest news
The government has issued draft regulations that will amend the transfer balance cap provisions to ensure that a member with a capped defined benefit income stream is not adversely impacted if they move to a new fund under a successor fund transfer.
Under current legislation, a member’s transfer balance may be unintentionally impacted due to the original income stream ceasing and a new one beginning.
The draft legislation would amend the transfer balance credit provisions so that the credit and debit arising due to a successor fund transfer for individuals with a capped defined benefit income stream are equal. This would ensure the amounts cancel each other out and the member’s transfer balance account is not impacted by the successor fund transfer.
The amendments would apply to successor fund transfers occurring from the day after registration of the regulations, but would also apply retrospectively to successor fund transfers from 1 July 2017 where the member was disadvantaged by the current rules.
The Minister for Aged Care has issued a media release regarding a delay in the commencement date of the new Aged Care Act which was proposed to commence on 1 July 2024.
In the media release, the Minister states ‘The Government is now considering the extensive and valuable feedback to refine and finalise the draft legislation before it is introduced to Parliament.
We will update the commencement date of the legislation following these updates and before the bill is introduced to the Parliament.’
While the new commencement date is yet to be announced, there is speculation it may be 1 July 2025.
The government has issued a commencement proclamation for changes to the First Home Super Saver (FHSS) scheme.
The changes to the FHSS scheme are aimed at improving access to the scheme and received royal assent on 20 Sept 2023, see Treasury Laws Amendment (2023 Measures No. 3) Act 2023, Schedule 4.
The commencement date of these reforms has now been confirmed as 15 Sept 2024.
For more information on the reforms, see the FirstTech article FHSS scheme flexibility Changes pass parliament, yet to commence
Latest articles
2023-24 year-end super strategies
As we approach the end of 2023-24, it's an ideal time to look at year-end super strategies and prepare for the new financial year.
Super Death Benefits - Who is a spouse?
Sometimes determining if a beneficiary of a super death benefit was a spouse of the deceased at the date of death, is not so clear cut.
When does a concessional contribution stop being tax effective in 2023-24?
Concessional contributions are only tax effective to the point where taxable income is reduced to the effective tax-free threshold.
Latest webinars and podcasts
FirstTech podcasts
Earn CPD points by staying up-to-date, listening to our podcasts and taking the quiz.
Our experts are always here to help
"It is truly refreshing to receive such a high-quality response demonstrating professional and technical competency. I hold FirstTech in high regard."
Norman Howe
Stratxa Advisory
"FirstTech is an asset to CFS and a valuable resource to advisers"
Jesmond Azzopardi
Tribel Advisory
Know you’re partnering with the best
Wealth Insights 2023
FirstChoice Ranked #1 in Technical Support
Unleash in ways you never thought possible
Get in touch
For technical enquiries contact us
8:30am – 6pm AEST Monday to Friday.
*Wealth Insights Platform Service Level Reports - CFS First Tech team was rated #1 by Wealth Insights for Technical Support every year since 2013.
Adviser use only. Information on this webpage is provided by Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 and Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468. It may include general advice but does not consider anyone’s individual objectives, financial situation, needs or tax circumstances. You should read the relevant Product Disclosure Statements (PDSs), Investor Directed Portfolio Service Guides (IDPS Guides) and Financial Services Guides (FSGs) before making any recommendations to a client. The PDSs, IDPS Guides and FSGs can be obtained from www.cfs.com.au or by calling us on 13 18 36. Past performance or awards are no indication of future performance.